I'd roll the dice. You have a 67% chance of getting lucky and only a 33% chance of being unlucky. Good odds. Plus unless the two macs are on the same intranet and both running Office at the same time, there are no negative consequences to accidentally using the same product key.

If you'd like to start over, there are some little utilities you can find here (you can use an Applescript, or MAc HelpMate) that will let you remove the key on the activated copy. Then you can start over and keep track of those labels.

If you'd like to start over, there are some little utilities you can find here (you can use an Applescript, or MAc HelpMate) that will let you remove the key on the activated copy. Then you can start over and keep track of those labels.

Click to expand...

What about the "Remove Licensing Information" option in the Office 2004 Uninstaller?

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